Tuesday, July 27, 2010

Climb The Salary Ladder

While their starting salaries may be modest, these 5 careers have serious long-term earning potential.
By Tony Moton


Are you worried that your starting salary in a new career will be too low?
Take heart: with some luck and hard work, you won't have to stay there for long.
"It's not like you can work hard, put your nose to the grindstone ... and get an automatic pay increase anymore," says Kevin Grossman, president of HRmarketer.com, a leading human resources services firm. "You have to take ownership of your career," Grossman says.
Grossman suggests that workers invest time and energy in planning how they want to move up the salary ladder, including gaining the necessary training and developing cross-functional and leadership skills.
Check out our salary growth plan for these five careers with high earning potential.

Career #1: Marketing Research AnalystStarting Salary: $38,431*Potential Salary: $88,761**
Marketing research analysts help companies figure out how people think and use their knowledge to boost sales. If you have an inquiring mind, this just might be the job for you.
How To Climb The Salary Ladder
1. Start by earning a
bachelor's degree. Business, marketing, and consumer behavior programs can give you the knowledge necessary to take those first crucial steps up the ladder, according the U.S. Bureau of Labor Statistics (BLS).
2. Gain experience assisting marketing supervisors and show how great you are at collaborating with others. This will help lead you to independent research projects, where the increased job responsibilities could bring increased salary potential.
3. Once you've established yourself as an experienced marketing research analyst, additional degree work, such as a
master's degree, or certification from the Marketing Research Association, can help you advance to even higher paying jobs in the field. Supervisory and teaching positions are among the most well-paid analyst positions to set your sights on.
Are you ready to take the first step towards a lucrative marketing career?
Search for local and online Marketing degree programs now.

Career #2: Nurse Starting Salary: $53,272Potential Salary: $100,536
In terms of hiring numbers, registered nurses (RNs) occupy the most positions in the health care field with 2.6 million jobs. That figure will increase by 22 percent between 2008 and 2018. More than half of the jobs are in hospitals, but job candidates are needed everywhere, particularly in less-populated rural areas.
How To Climb The Salary Ladder
1. In general, you have three routes into entry-level RN positions: a
bachelor's degree, an associate's degree, and a diploma from an approved nursing program.
2. Most nurses begin their careers in hospitals, but you can change settings and work in an office or clinic as a way to earn a promotion into more responsibility and pay. On the management level, you can progress from being a head nurse or assistant unit manager to a senior administrator.
3. With a
master's degree, you will have a better chance of reaching a management position - and the salary that goes along with it. You might also think about becoming a nurse practitioner, either working independently or collaboratively with physicians while focusing on primary care services.
Search for online and local Nursing schools now.

Career #3: Financial Analyst Starting Salary: $35,474Potential Salary: $100,293
Businesses and individuals rely on financial analysts to guide them along the path of sound investment decisions. If you're looking to enter a field that offers increased financial rewards throughout your career, this is the job for you.
How To Climb The Salary Ladder
1. Get your foot in the door with an entry-level position by earning a
bachelor's degree. Applicable areas of study include accounting/finance, business, statistics, and economics.
2. To climb up the career ladder, look into certifications. A Chartered Financial Analyst (CFA) designation, sponsored by the CFA Institute, helps analysts who want to specialize in certain areas, such as risk management.
3. If you want to reach the upper salary levels of this position, you will need to get promoted into a position where you're responsible for larger or more important products. Consider supervising teams of analysts or becoming a portfolio/fund manager.

Get started on your Business education now.
Search for top online and local Business schools!

Career #4: ParalegalStarting Salary: $35,394Potential Salary: $93,000
Also called legal assistants, paralegals provide attorneys with support in the preparation of hearings, trials, and legal documents. Key responsibilities include researching and analyzing statutes and judicial rulings.
How To Climb The Salary Ladder
1. An
associate's degree in paralegal studies is considered the most common starting point. If you already have a degree, you can probably get started with a paralegal certificate.
2. Once you have gained some paralegal work experience, improve your salary potential by earning certification. The National Association of Legal Assistants offers a two-day exam, and once you've passed it, your job marketability and salary are likely to receive a boost.
3. Proven leadership responsibility is one of the best ways you can put yourself on track for advancement in large firms, government agencies, and corporate legal departments. Position yourself for advancement by demonstrating that you can handle more responsibility and manage others.
Search for Paralegal and Legal schools now.

Career #5: Computer Systems AnalystStarting Salary: $42,079Potential Salary: $125,759
Businesses utilize analysts to direct and troubleshoot their computer and information technology (IT) systems. They also might either design new computer systems or develop ways to improve and expand existing systems.
How To Climb The Salary Ladder
1. Employers generally prefer candidates with a
bachelor's degree in a technical field like computer science, information science, applied mathematics, or engineering.
2. Once you've broken into the field, show you can keep up with computer technology - and position yourself for promotions - by taking
additional training courses provided by your employer, outside vendors, and schools.
3. As a lead analyst, your experience and leadership skills can put you in line for a promotion to information systems manager or an executive position, such as chief information officer. Six-figure salaries are not uncommon at this point in your career.

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